Bank Charges For Mutilated Notes Currency

Bank Charges for Mutilated Notes Currency

When notes become obsolete, they are considered useless when the note is torn.But according to the RBI, these notes can be exchanged at the bank, but the bank will charge you a fee for this.

 Bank Charges For Mutilated Notes Currency-TeluguStop.com

Depending on the condition of the note you are giving, an appropriate amount of cash will be given.For example, a Rs 2,000 note is 88 square centimeters.You get all the money.But if it is 44 square cm it will cost only half the price.

Similarly, if the torn 200 rupee note has 78 square cm, the full amount will come.However, for 39 square cm, only half the money comes.

If you have 20 notes and their value is less than 5000 rupees,You do not have to pay any fees.

If you have more than 20 notes.

If their value is also more than 5000, you have to pay the charge.In such cases.

If more than 20 notes, GST will be payable along with payment of two rupees per note.If their value is more than 5000, cash will be recovered at the rate of Rs.2 per note or Rs.5000 per note.Whichever is higher will be charged by the bank.

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